The Commonwealth Bank of Australia will work with Telstra and Ericsson will explore the potential of 5G wireless technology to connect branches.
Telstra revealed details of the 5G edge computing trial, which will involve testing “end to end banking solutions”, at the Mobile World Congress in Barcelona.
“5G edge computing is all about bringing the network closer to the user or application,” said Nikos Katinakis, Telstra’s group executive, networks and IT.
“For financial institutions like Commonwealth Bank, it will help to enhance existing banking applications as well as deliver new use cases such as artificial intelligence, all supported by a range of software defined networking solutions.”
The 5G standard supports network slicing, potentially enabling multiple networks to be served from the same physical infrastructure. Use of the wireless technology could reduce the physical network infrastructure that CBA would need to install to support a new branch.
“We’re excited to be working with Telstra and Ericsson to test and learn on 5G and edge computing,” said CBA’s general manager digital and retail operations and technology, Pete Steel.
“These technologies have significant potential to enhance the availability, stability and performance of our network infrastructure and we hope they can help us provide quicker and better digital experiences for our customers.”
Telstra has been preparing its mobile network for the launch of 5G services after spending $386 million to purchase spectrum licences to support its rollout.
Telstra has switched on support for 5G in parts of Melbourne, Sydney, Canberra, Brisbane Adelaide, Perth, Hobart, Launceston, the Gold Coast and Toowoomba.
The telco has also started revealing details of deals with handset makers to offer 5G-enabled devices to its customers.
Telstra has revealed that it will be the first Australian telco to offer the Samsung Galaxy S10 5G. It will also exclusively offer the LG V50 ThingQ in Australia. In addition Telstra said it would make Oppo’s first 5G handset available when it launches. Last year Telstra staged a demonstration of the HTC 5G Hub, which will also be exclusive to the telco.
“There are two key components to bringing 5G to life – you need the network technology and you need compatible devices,” said Telstra CEO Andrew Penn. “Our network has been ready for some time, and we’re now even closer to having 5G-compatible devices available for our customers.”